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ADDENDUM TO BONDHOLDERS' SUMMONS

Reference is made to the summons to bondholders' meetings in DOFSUB07 (ISIN NO 001 0670144) deferral and standstill arrangement that were approved in the Bondholders Meeting on 22 April 2020. The bondholders' meetings have been scheduled for 30 September 2020 at 13.00 hours (Oslo time). Following discussions between the Company and an ad-hoc group of bondholders in each of the bond issues and their respective advisors the Company wishes to make certain amendments to the summons as set out in the attached addendum. For further information please contact: CEO Mons Aase tel. +47 91 66 10 12 CFO DOF Hilde Drønen tel. +47 91 66 10 09 CFO DOF Subsea Jan Nore tel. +47 48 09 46 99 About DOF Subsea: The DOF Subsea Group is a specialist subsea service business that provides subsea construction subsea engineering inspection repair and maintenance and survey services which involve complex and challenging engineering in an international environment. DOF Subsea owns a large fleet of modern subsea construction intervention and survey vessels that enable it to offer differentiated positions with its clients and work in long term relationships which enhance service delivery and reduce the overall risk. www.dofsubsea.com This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act."

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